Germany’s government bonds rose for the first time in four days as France and Spain sold bonds with record-low yields.

France’s 50-year securities climbed the most in two weeks after the nation auctioned more of its longest bonds at a record-low average yield of 1.43 percent. The Spanish Treasury sold five-year bonds a record-low yield of 0.088 percent, while its 2026 bonds drew a yield of 1.072 percent, less than the 1.125 percent in a previous operation in September.

The sales underscore demand for longer-term euro-area debt after a selloff this week that was fueled by speculation over when the European Central Bank may taper monetary stimulus. France also sold debt due in 2031 and 2026, while Spain’s offerings included 2037 securities.

“The market has been able to digest the long bonds that Spain and France issued today quite well, and maybe that’s driving some investors back to the long end after the recent selloff,” said Christian Lenk, a fixed-income strategist at DZ Bank AG in Frankfurt. “Yield levels at the auctions are still close to all-time lows,” and despite that, “investors’ interest seem to be there for them.”

Germany’s 10-year bund yields fell three basis points, or 0.03 percentage point, to minus 0.037 percent as of 1 p.m. in London, after climbing 11 basis points in the previous three days. The zero percent security due in August 2026 rose 0.318, or 3.18 euros per 1,000-euro face amount, to 100.366. The bunds added to their gains after the ECB’s minutes from its September meeting said it was “of crucial importance to preserve the very substantial degree of monetary support.”